In a report released today, Christopher Raymond from Piper Sandler maintained a Buy rating on Biogen (BIIB – Research Report), with a price target of $325.00. The company’s shares closed last Friday at $194.38.
Raymond covers the Healthcare sector, focusing on stocks such as Biogen, BioMarin Pharmaceutical, and Vertex Pharmaceuticals. According to TipRanks, Raymond has an average return of 3.6% and a 48.80% success rate on recommended stocks.
Biogen has an analyst consensus of Moderate Buy, with a price target consensus of $285.86, representing a 47.06% upside. In a report released today, Oppenheimer also assigned a Buy rating to the stock with a $270.00 price target.
Based on Biogen’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $2.39 billion and a net profit of $249.7 million. In comparison, last year the company earned a revenue of $2.54 billion and had a net profit of $550.4 million
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is neutral on the stock.
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Biogen (BIIB) Company Description:
Incorporated in 1978, Massachusetts-based Biogen, Inc. is a biopharmaceutical company, which discovers, develops, and delivers therapies for the treatment of neurological and neurodegenerative diseases. It offers TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, VUMERITY, and FAMPYRA for the treatment of multiple sclerosis; SPINRAZA for the treatment of spinal muscular atrophy; and FUMADERM for the treatment of severe plaque psoriasis.
